TENGDA CONST.(SH:600512)2022-04-28 16:00Financial Performance - In 2021, the company achieved a total operating revenue of CNY 6,925,157,053.46, representing a 17.31% increase compared to CNY 5,903,418,678.10 in 2020[20]. - The net profit attributable to shareholders of the listed company for 2021 was CNY 820,390,308.83, a 35.1% increase from CNY 607,248,158.86 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was CNY 798,193,805.02, which is a significant increase of 199.93% compared to CNY 266,127,385.52 in 2020[20]. - Basic earnings per share for 2021 were CNY 0.51, representing a 34.21% increase from CNY 0.38 in 2020[22]. - The cash flow from operating activities for 2021 was CNY 731,470,906.30, a significant increase of 60.99% compared to CNY 454,368,577.06 in 2020[21]. - The company achieved a weighted average return on equity of 14.42% in 2021, up by 2.24 percentage points from 12.18% in 2020[22]. - The total assets at the end of 2021 reached CNY 11,562,696,187.26, reflecting a growth of 5.83% from CNY 10,925,433,578.67 in 2020[21]. - The total operating cost amounted to ¥5,580,976,274.94, which is an 8.82% increase year-on-year[47]. - The company reported a significant increase in real estate sales, contributing to the rise in revenue and operating income[47]. Dividend Distribution - The company distributed a cash dividend of CNY 0.20 per share (including tax) to shareholders, totaling CNY 31,649,551.80 based on a total share capital of 1,582,477,590 shares[5]. - The retained earnings after the dividend distribution amounted to CNY 944,624,491.79, which will be carried forward to the next fiscal year[5]. - The company's cash dividend policy remains unchanged, distributing at least 30% of the average distributable profit over three years if conditions are met[110]. Market and Business Strategy - The company expanded its market presence by actively participating in large project tenders and deepening cooperation with government and owners across nearly ten provinces in China[30]. - The company is positioned in a mature construction industry with intense competition and low overall profit levels, but it aims to strengthen its core business[33]. - The company aims to enhance market development and optimize market layout and industrial structure in 2022, focusing on deepening traditional markets and exploring new fields[79]. - The company plans to increase R&D investment in key technology areas such as structural engineering, new materials, and digital construction in 2022[80]. Research and Development - The company achieved 8 invention patents and 60 utility model patents during the reporting period, reflecting its commitment to research and development[31]. - Research and development expenses grew by 15.82% to ¥248,735,943.78, indicating a focus on construction technology and methods[41]. - The company employed 430 R&D personnel, making up 12.62% of the total workforce[49]. Risk Management - The company has detailed the risks it faces in the report, which investors should review carefully[7]. - The company faces macroeconomic fluctuation risks, as its main business is closely tied to the economic cycle and government infrastructure spending[81]. - The company is implementing a risk warning mechanism to assess the creditworthiness and repayment ability of project buyers, considering regional economic conditions and government financial strength[82]. - The company regularly evaluates the credit risk associated with accounts receivable and monitors balances to mitigate significant bad debt risks[83]. Corporate Governance - The audit report issued by Tianjian Accounting Firm was a standard unqualified opinion, ensuring the accuracy and completeness of the financial report[4]. - The company has established a robust internal control system and governance structure in compliance with relevant laws and regulations, holding 2 shareholder meetings and 9 board meetings during the reporting period[85][86]. - The company has implemented a strict insider information management system, ensuring no insider trading incidents occurred during the reporting period[87]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 80,354, down from 89,823 at the end of the previous month[157]. - The total number of shares held by the board members at the beginning and end of the reporting period remained unchanged at 181,933,617 shares[91]. - The company completed a share buyback of 16,425,242 shares, accounting for 1.03% of the total share capital[165]. Financial Position - Total current assets increased to ¥8,445,342,483.01 in 2021, up from ¥8,102,663,049.11 in 2020, representing a growth of 4.23%[183]. - Cash and cash equivalents rose to ¥3,051,018,586.77 in 2021, compared to ¥1,925,555,475.30 in 2020, marking an increase of 58.5%[183]. - Total liabilities decreased to ¥5,643,959,462.24 in 2021 from ¥5,755,282,200.66 in 2020, a reduction of 1.94%[185]. - The total owner's equity reached ¥5,918,736,725.02 in 2021, up from ¥5,170,151,378.01 in 2020, representing an increase of 14.4%[185]. Project and Contract Information - The company has ongoing construction contracts with a total value exceeding RMB 500 million, including projects with values of RMB 864.18 million and RMB 910.32 million[134][135]. - The company won the bid for the "Ningbo Hangzhou Bay New Area Xingci Fourth Road Cross Eleven Tang River Bridge Project" with a contract value of RMB 111.12 million and a construction period of 720 calendar days[137]. - The company secured the "Hangzhou Xiaoshan Tongcheng Avenue Expressway Project" with a bid amount of RMB 580.49 million and a service period of 1095 calendar days[137].